LONDON — Europe’s markets all got off to another positive start in trading Tuesday morning.
The DAX in Frankfurt rose 1 percent to 11,571.73, while the CAC 40 in Paris gained 0.8 percent to 5,038.66. The FTSE MIB in Milan was up 0.5 percent to 23,592.75, and the FTSE 100 in London climbed 0.2 percent to 6,837.15.
Investors continued to be upbeat on the prospects of Greece agreeing to a debt deal with its creditors, before the country defaults on a 1.6 billion euro International Monetary Fund loan at the end of June. Angela Merkel told the BBC Monday evening that the latest proposals offered by Greece “constitute some progress,” underlining that the aim is for Greece to stay in the euro zone.
Fashion, luxury and retail stocks were again largely in positive territory. Risers included Asos, 3.9 percent to 39.48 pounds; Richemont, 1.2 percent to 78.70 Swiss francs, and French Connection, 1.1 percent to 0.45 pounds.
Among the fallers were MySale Group, 3.3 percent to 0.51 pounds; Jimmy Choo, 1.5 percent to 1.60 pounds, and Mulberry, 0.6 percent to 9 pounds.
At 11:16 a.m. CET, the pound traded for $1.59, while the euro went for $1.14 and the Swiss franc for $1.09.